Corporate tax transparency report for 2015-16 released

On 7 December 2017, the ATO published the corporate tax transparency report for 2015-16 which includes some tax information of more than 2,000 large companies operating in Australia.

The report includes:

1,693 Australian public and foreign-owned companies with an income of $100 million or more; and

350 Australian-owned resident private companies with an income of $200 million or more.

The companies whose information have been published account for more than $38 billion or almost 60% of total company income tax payable in 2015-16, most of which was paid voluntarily.

Deputy Commissioner Jeremy Hirschhorn said that the community should have confidence that the largest companies are being required to pay the right amount of tax on their Australian profits, and most do so voluntarily.